CDEV has been the topic of a number of other reports. Jefferies Financial Group downgraded Centennial Resource Development from a buy rating to a hold rating in a research report on Monday, July 15th. Zacks Investment Research upgraded Centennial Resource Development from a sell rating to a hold rating in a research report on Tuesday, July 30th. Barclays restated a hold rating and set a $9.00 price objective on shares of Centennial Resource Development in a research report on Tuesday, July 2nd. Royal Bank of Canada set a $10.00 price objective on Centennial Resource Development and gave the company a buy rating in a research report on Wednesday, August 7th. Finally, ValuEngine downgraded Centennial Resource Development from a sell rating to a strong sell rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $12.22.
Shares of Centennial Resource Development stock opened at $4.30 on Wednesday. The stock has a 50 day moving average of $5.69 and a 200 day moving average of $8.49. Centennial Resource Development has a 12 month low of $3.92 and a 12 month high of $23.12. The firm has a market cap of $1.30 billion, a PE ratio of 10.22, a PEG ratio of 8.25 and a beta of 1.90. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.27.
In other Centennial Resource Development news, CFO George S. Glyphis purchased 50,000 shares of Centennial Resource Development stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $234,500.00. Following the completion of the acquisition, the chief financial officer now owns 493,195 shares in the company, valued at approximately $2,313,084.55. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 31.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CDEV. Carroll Financial Associates Inc. grew its stake in Centennial Resource Development by 895.5% in the second quarter. Carroll Financial Associates Inc. now owns 3,335 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 3,000 shares in the last quarter. Hilton Capital Management LLC bought a new position in Centennial Resource Development in the first quarter worth approximately $47,000. Bank of Montreal Can grew its stake in Centennial Resource Development by 7,891.2% in the first quarter. Bank of Montreal Can now owns 8,151 shares of the oil and natural gas company’s stock worth $72,000 after purchasing an additional 8,049 shares in the last quarter. Twin Tree Management LP grew its stake in Centennial Resource Development by 6,540.4% in the first quarter. Twin Tree Management LP now owns 9,031 shares of the oil and natural gas company’s stock worth $79,000 after purchasing an additional 8,895 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in Centennial Resource Development in the second quarter worth approximately $79,000.
Centennial Resource Development Company Profile
Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.
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